Asset Managers – Page 260
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News
German schemes welcome Schuldscheine ratings
GERMANY – German pension funds have welcomed an announcement by international rating agency Moody’s that it will begin rating Schuldscheine (non-negotiable loan certificates) issued by German companies.
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MEPs adopt asset management report
EUROPE – The European Parliament today adopted the Klinz report on asset management by a “clear majority”.
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Big European funds back UN investment principles
EUROPE – Some of Europe’s largest pension funds have signed up to the United Nations’ new set of six responsible investment principles.
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AEGON names Pension Network board member
NETHERLANDS – AEGON has appointed Martijn Tans to the management board of the AEGON Pension Network.
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Pension funds buy Austria’s RZB hybrid bond
AUSTRIA – International pension funds were among the buyers in a €500m hybrid bond sale by RZB, an Austrian co-operative bank that has aggressively expanded its business in central- and eastern Europe (CEE).
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S&P pension director Weiland joins Gissings
UK – Alex Weiland, a pension services director at rating agency Standard & Poor’s, has quit to become investment chief at employee benefit advisory firm Gissings.
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FRR awards €600m SRI mandates
FRANCE – The FRR, the €26.6bn Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has awarded five asset managers a total of €600m in socially responsible investing mandates.
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French reserve fund re-tenders transition broking
FRANCE – The FRR, the €26.6bn Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has re-tendered a €16bn transition broking brief it awarded to Goldman Sachs less than two years ago.
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Julius Baer asset management chief von Ah quits
SWITZERLAND – Swiss private bank Julius Baer has announced that Roman von Ah, head of asset management for continental Europe, is stepping down as of April 28.
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Crédit Agricole AM mulls US acquisition - CIO
FRANCE - Crédit Agricole Asset Management is considering an acquisition in the US, according to chief investment officer Pascal Blanqué.
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CalPERS names ex-DeAM’s Read as CIO
GLOBAL – The California Public Employees' Retirement System has appointed former Deutsche Asset Management deputy chief investment officer Russell Read as CIO of the $208bn (€169bn) public pension scheme.
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ABN Amro AM sells $6bn US retail arm
US – ABN Amro Asset Management has sold its $6bn US mutual fund business for $36.6m to focus on institutional business.
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Austria: asset management degree offered
AUSTRIA – An advanced technical college in Vienna is offering a new master of science degree for quantitative asset management from this autumn.
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AP4 to go passive for emerging markets
SWEDEN – The SEK180.2bn (€19.2bn) Fourth Swedish National Pension Fund, or AP4, is “likely” to use a passive rather than active approach when it invests 3% of its assets in emerging market equities.
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Shell pension strategist Cardon joins bank (updated)
NETHERLANDS – Dutch Shell Pension Fund investment strategist Helmut Cardon has quit to join US investment bank Morgan Stanley in May. (updated)
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Schroders in US outsources €2.4bn to Bank of NY
GLOBAL – Schroders’ North American arm has outsourced investment operations for $3bn (€2.4bn) in assets to the Bank of New York.
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HSBC names securities services chief
UK – Banking group HSBC has named Tim Howell to take over as global head of its securities services business from John Gubert, who is retiring.
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Slovenia pension manager KAD reports profit
SLOVENIA – The supervisory board of the state-run €1.18bn Pension Fund Management, or Kapitalska Druzba (KAD), has reported a SIT15bn (€62m) net profit result for 2005.
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US custodians report double-digit asset growth
US – Three large US custodian banks – Mellon, Northern Trust and State Street - reported first-quarter assets under custody today.
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ABN Amro’s Fernandes joins Citigroup
UK – Francis Fernandes, the former Lane Clark & Peacock partner who joined ABN Amro two years ago, has now quit to join Citigroup’s pensions advisory group in London.
